ET Now: What do you make of yesterday's rally in some of the auto stocks?

Prakash Diwan: It is a bit too early to come to that conclusion that monsoon is a disappointment and hence the corollary that auto stocks would find it difficult. If you look at what has happened is the possibility of petrol prices not having moved further in the last month or so. And some sort of feeling of respite that prevails, all that pent up buying that was postponed or put aside has come in and would continue to come. I doubt, if auto stocks would really see any kind of a significant slowdown. We would probably see some market share shifts because we have very quietly seen Honda move up to the ladder in terms of its market share at the cost of possibly Hero MotoCorp and TVS but. Otherwise if you see auto sales especially two wheelers, there is not really much slowing down and there are different segments that people are catering to in the four-wheeler pack. The slow down in demand is offset by some sort of a bump up in sales. So I would not be very disappointed with auto stocks and would not have such a negative view as yet.